The best one was this morning for the short after the morning
bounce setup a perfect bearish MACD KISS/Stochastic overbought
short setup off the doji. The other one later on was for a long but
only for a small move, you can see the two trades yesterday one big
long, and one quick short
if you were paying attention you had two more MACD KISS Stoch
setups as shorts. That last one the Stoch didn't quite make it to
80%, HOWEVER that's where you can use some subjectiveness to take
the trade anyway - price had broken support and was downtrending,
so you should have had a bias to look for a short and that would
have provided a re-entry, even if the Stoch only made it to 72%
instead of 80%, CLOSE ENOUGH for Gov work
Posted by donkeyface on 6th of Oct 2022 at 05:25 pm
If you took that first one, that's a great trade.... It was
really looking like it wanted to break out (to upside) of what was
a little flat bottom triangle. I butchered that spot but
then got back on sides and booked some points!
Posted by DigiNomad on 6th of Oct 2022 at 01:57 pm
I'm guess Matt says that is dependent on the timeframe and your
trading style. On my TSLA trade earlier today, I was taking .5%
risk, so I set my profit taker order at 1% gain (I use bracket
orders)...which was well under the moving average targets I might
have otherwise picked as targets. Turns out waiting for the
underside of the 50 would have worked, and then some, but I'm
bearish on TSLA medium term, so I used a very short
leash.
As far as your question, first off that MACD KISS / Stoch setup
is fractal - can be used on any time frame.
as far as entries - they are very set in stone - the exits of
course you have some liberty to be subjective there. I think one
could employ a mutli scaleout approach:
If you are going long based on the positive MACD kiss and Stoch
OS, your first target is simply the Stochastic getting overbought -
so you could scale out of a portion of your position there - this
will be fair quick trade lasting 3 - 5 bars maybe. Next if you
think the trend can keep going you can keep a trailing piece -
maybe use a stop below the low of the last candle or few candles,
some fast MA, whatever
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Great setups from MACD KISS / Stochastic setup
Posted by matt on 6th of Oct 2022 at 01:01 pm
this 3 min chart shows you 4 setups
The best one was this morning for the short after the morning bounce setup a perfect bearish MACD KISS/Stochastic overbought short setup off the doji. The other one later on was for a long but only for a small move, you can see the two trades yesterday one big long, and one quick short
if you were paying attention
Posted by matt on 6th of Oct 2022 at 03:09 pm
if you were paying attention you had two more MACD KISS Stoch setups as shorts. That last one the Stoch didn't quite make it to 80%, HOWEVER that's where you can use some subjectiveness to take the trade anyway - price had broken support and was downtrending, so you should have had a bias to look for a short and that would have provided a re-entry, even if the Stoch only made it to 72% instead of 80%, CLOSE ENOUGH for Gov work
Hi Matt- Just wondering how to
Posted by chlo8888 on 6th of Oct 2022 at 06:25 pm
Hi Matt-
Just wondering how to replicate the settings on this chart for the Stochastics? Can you help?
I thought it was Slow
Posted by timebandit on 6th of Oct 2022 at 08:37 pm
I thought it was Slow Stoch, not Stoch RSI. And rhe Slow Stoch setting is 5,3 I think, but I’m not at my computer so can’t check it
If you took that first
Posted by donkeyface on 6th of Oct 2022 at 05:25 pm
If you took that first one, that's a great trade.... It was really looking like it wanted to break out (to upside) of what was a little flat bottom triangle. I butchered that spot but then got back on sides and booked some points!
Yes very close for Government
Posted by retirefire on 6th of Oct 2022 at 03:13 pm
Yes very close for Government Work
ah ha ha that's great!!
Posted by matt on 6th of Oct 2022 at 03:16 pm
ah ha ha that's great!!
when do you close out
Posted by morton7 on 6th of Oct 2022 at 01:24 pm
when do you close out the trade?
I'm guess Matt says that
Posted by DigiNomad on 6th of Oct 2022 at 01:57 pm
I'm guess Matt says that is dependent on the timeframe and your trading style. On my TSLA trade earlier today, I was taking .5% risk, so I set my profit taker order at 1% gain (I use bracket orders)...which was well under the moving average targets I might have otherwise picked as targets. Turns out waiting for the underside of the 50 would have worked, and then some, but I'm bearish on TSLA medium term, so I used a very short leash.
As far as your question,
Posted by matt on 6th of Oct 2022 at 02:52 pm
As far as your question, first off that MACD KISS / Stoch setup is fractal - can be used on any time frame.
as far as entries - they are very set in stone - the exits of course you have some liberty to be subjective there. I think one could employ a mutli scaleout approach:
If you are going long based on the positive MACD kiss and Stoch OS, your first target is simply the Stochastic getting overbought - so you could scale out of a portion of your position there - this will be fair quick trade lasting 3 - 5 bars maybe. Next if you think the trend can keep going you can keep a trailing piece - maybe use a stop below the low of the last candle or few candles, some fast MA, whatever